Surety Bonds
Wil Haines
Description
Collection
Title:
Surety Bonds
Creator:
Wil Haines
Date:
1/14/2009
Text:
Hello Colleagues and Guests:
Am I correct in assuming that a surety bond requirement will be at the
practitioner level and not at the facility level? If anyone has a handle
on the surety bond regulations and can provide a short summary of what
it means, I would appreciate it. State O&P licensure seems to be the
most practical solution to this upcoming dilemma in non-licensing states
and I would like to help get that process started here in Indiana as
soon as I can learn more about this issue. Here's a couple questions
regarding this issue. If an O&P practitioner is licensed in Ohio (for
example), has an office in Ohio, but sees patients from Indiana where
O&P licensing does not exist, will a surety bond be required? If the
Ohio based company also has an office in Indiana and one of its Ohio
licensed practitioners sees patients in Indiana, will that practitioner
still be required to provide a surety bond, even though one may not be
required for the patients who are seen in Ohio? Just curious as to how
this might work. Also, I have heard numbers from $500.00 to $1000.00
dollars per year for each practitioner to obtain the minimum $50,000.00
surety bond premium. Does anyone have a good sense about the premium
amounts? Thanks in advance for any and all replies.
Wil Haines, CPO
Am I correct in assuming that a surety bond requirement will be at the
practitioner level and not at the facility level? If anyone has a handle
on the surety bond regulations and can provide a short summary of what
it means, I would appreciate it. State O&P licensure seems to be the
most practical solution to this upcoming dilemma in non-licensing states
and I would like to help get that process started here in Indiana as
soon as I can learn more about this issue. Here's a couple questions
regarding this issue. If an O&P practitioner is licensed in Ohio (for
example), has an office in Ohio, but sees patients from Indiana where
O&P licensing does not exist, will a surety bond be required? If the
Ohio based company also has an office in Indiana and one of its Ohio
licensed practitioners sees patients in Indiana, will that practitioner
still be required to provide a surety bond, even though one may not be
required for the patients who are seen in Ohio? Just curious as to how
this might work. Also, I have heard numbers from $500.00 to $1000.00
dollars per year for each practitioner to obtain the minimum $50,000.00
surety bond premium. Does anyone have a good sense about the premium
amounts? Thanks in advance for any and all replies.
Wil Haines, CPO
Citation
Wil Haines, “Surety Bonds,” Digital Resource Foundation for Orthotics and Prosthetics, accessed November 24, 2024, https://library.drfop.org/items/show/230010.
